Green Thumb Industries Reports Q1 Revenue Growth to $300.2 Million

Green Thumb Industries reported first-quarter financial results featuring a 7.4% year-over-year revenue increase, totaling $300.2 million. The company generated $93.5 million in normalized EBITDA and $76 million in operating cash flow, resulting in a GAAP net income of $15.4 million.

The cannabis operator maintained a liquid position, ending the quarter with approximately $344.5 million in cash and cash equivalents against $289.9 million in total debt. To reward shareholders, the company repurchased approximately 6 million shares for $33.3 million during the first quarter and an additional 7.4 million shares following the period's end. These actions brought total repurchases for the year to nearly $78 million.

Green Thumb Industries currently operates more than 110 Rise dispensaries across the United States. The company is continuing its growth strategy by selectively expanding operations into Texas and Minnesota.